Growing population throughout the world demands restricts owning an individual home. Almost all the countries face this restriction, and Mississauga is no exception to it. The increase in population changes a person’s mind in buying an individual home; this is where the real estate industry stepped a notch in convincing people to own high raised complex of buildings that comprises a number of individually owned apartments or houses. Mississauga is the sixth largest city that is rapidly developing in terms of population and technology; this attracts more and more investors day by day. As the real estate industry grows, people are filled with an immense number of options in buying even the smallest of houses.
Picking up the best realtor in the locality is the first decision on has to make before deciding to buy a home. For instance,http://www.mississaugacondosplanet.com/ is a realtor which pops out among several realtors. This article will convince your thoughts and at the end of it will provide a better solution decision wise. Refer the interesting facts in this link which supports the gist of this whole idea http://www.alexa.com/siteinfo/zillow.com.
Investment Vs monthly rental
To be conventional, it’s much better to invest in buying a home rather than letting of money go away in the form of rental. If someone gets convinced in buying a home, there is a controversy between buying an individual home and condos as well, making it even more difficult for the people to choose what to do? Sources imply that be it a condo or individual home; interest rates will climb gradually in the near future making it a hardship for the people in paying the mortgage. Though all the points referred by few trusted professionals support the fact buying a home or condo is not wise, there are still a lot more considerable advantages in buying condos
It’s better to buy a condo if you can, as paying rental on a monthly basis can never save money to buy an own house in future. This is inevitable, as the value of a property will increase in future. Some may feel rental houses are flexible, as there are no unexpected expenses like furnace breaking etc., mortgage payments, likely have exposure to different neighborhoods without worrying about real estate and lawyer fees.
Young professionals in their 20’s and 30’s look for flexibility and prices. More predominantly price matters a lot to them. For instance, if a person is willing to buy a condo starter(One bedroom condo) away from the city this comes around $100,000 to $200,000 whereas the same starter condo in city center comes around $200,000 to start with, which is not relatively expensive than buying an individual home in the city. If we calculate the difference between the payments, one has to go after buying and renting. It equals to nil. There is no difference between both. But the added advantage a condo provides owns a dream home.
Both rental and buying are viable when it comes to having a residence for the young people. But what matters is the market risk rate one is ready to take on buying. At the same time, rental doesn’t help much more in saving money.